Allworth Financial LP Has $92,000 Stock Position in Southern Copper Co. (NYSE:SCCO)

Allworth Financial LP grew its stake in shares of Southern Copper Co. (NYSE:SCCO) by 277.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,065 shares of the basic materials company’s stock after buying an additional 783 shares during the quarter. Allworth Financial LP’s holdings in Southern Copper were worth $92,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in shares of Southern Copper by 8,523.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock valued at $14,882,000 after purchasing an additional 170,902 shares during the period. Autumn Glory Partners LLC acquired a new position in shares of Southern Copper during the fourth quarter valued at about $210,000. Ballentine Partners LLC acquired a new position in shares of Southern Copper during the fourth quarter valued at about $247,000. Venturi Wealth Management LLC raised its holdings in shares of Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares during the period. Finally, DAVENPORT & Co LLC acquired a new position in shares of Southern Copper during the fourth quarter valued at about $523,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the subject of several recent research reports. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. decreased their target price on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $76.83.

Southern Copper Trading Down 1.5 %

Shares of SCCO stock opened at $115.25 on Friday. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $120.37. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. The company has a 50-day simple moving average of $93.41 and a two-hundred day simple moving average of $82.82. The company has a market capitalization of $89.10 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 3.40 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Research analysts anticipate that Southern Copper Co. will post 3.89 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s payout ratio is 101.91%.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.